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Continuum_Economics

Chart GBP/USD Update: Limited scope above 1.3600

Short
British Pound / U.S. Dollar (FX:GBPUSD)  
Continuum_Economics  
FX:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Chart Patterns Technical Indicators GBPUSD GBP cable fx
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trendanalysis chartpattern indicator gbpusd gbp cable fx
The pullback towards 1.3500 has given way to a corrective bounce from 1.3520~, whilst oversold intraday momentum studies unwind.
GBPUSD is trading around 1.3600, but falling daily stochastics and the bearish Tension Indicator are expected to cap any break to below the 1.3675 Fibonacci retracement.
Following corrective trade, downside levels are expected to attract, with a later close below 1.3500 adding fresh weight to sentiment and opening up the 1.3450 weekly low of 11 January.
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